El Salvador: End of Legal Dispute with Enel Green Power

The settlement was made through the purchase of the Salvadoran Government for $280 million stake in geothermal LaGeo which owns the Italian company.

Wednesday, September 16, 2015

From a statement issued by the Executive Hydroelectric Commission of the Lempa River:

While in El Salvador preparations are being made to celebrate the country's independence, in Washington representatives of the Salvadoran government and the Italian company ENEL GREEN POWER are putting and an end to a long running dispute. The agreement allows the Salvadoran State to recover the total shares of LaGeo that had been held by the Italian company.

Both the negotiation and ratification of the agreement took place in Washington, at the headquarters of the International Centre for Settlement of Investment Disputes, ICSID. The Salvadoran state was represented by the Attorney General's Office, the Secretary for Legislative and Legal Matters of the Presidency and the President of CEL Group.

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